Public goods represent ________ because by their very nature they are nonexcludable and nonrival which makes it difficult for the private sector to supply them profitably.

A dominant strategy refers to a strategy where one player knows he will always beat the other player

Indicate whether the statement is true or false

In order for a hotel to successfully price discriminate so that senior citizens are given a discount, the hotel must be able to

A) offset the economic loss from charging senior citizens a lower price by lowering the marginal cost of renting rooms to senior citizens. B) lower its prices to younger customers too. C) prevent senior citizens from reselling their rooms to younger customers. D) shift its demand curve rightward. E) determine if a senior citizen can pay a higher price.